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Forex Flash: USD at new 2.5 year highs against Yen – BBH

By FXstreet.com,  January 11, 2013, 10:51:00 AM EDT

FXstreet.com (Barcelona) - The dollar moved to new 2.5 year highs against the yen near JPY89.35, encouraged by a larger than expected current account deficit comment Brown Brothers Harriman analysts.

They writes, "The JPY222.4 bln deficit was more than 10-fold greater than the consensus forecast and is the first current account deficit since January 2012. The deficit was a function of a larger trade deficit and a smaller investment income surplus. Separately, Japan's government approved a JPY10.3 trln stimulus of a JPY13.2 trln extra budget. For the first time in years the supplemental budget will be financed by new debt issuance (5-year bonds)."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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